late report, page-18

With over an hour left to trade in Canada, we are up to $14.99, that's equ. of $16.27. Very good result, $US21.3 million (and I have adjusted my formulas)

Highlights:
Fourth Quarter Ended December 31, 2006

Quarterly copper production of 10,523 tonnes, up 41% from the corresponding quarter of 2005;

Revenues from copper-silver and copper concentrate sales of $42.7 million, up 64% compared to the corresponding quarter of 2005;

Net earnings of $21.3 million ($0.38 per share), up 249% compared to the corresponding quarter of 2005;

Operating profit after depreciation and amortization of $25.8 million, up 158% compared to the corresponding quarter of 2005; and

Cash flows from operating activities, before working capital movements, of $17.7 million ($0.31 per share), up 87% compared to the corresponding quarter of 2005.

Outlook

The Company has achieved strong production performance and financial result in 2006. With two mines now in production, and one more commencing production during the second quarter of 2007, the Company expects to produce more than 50,000 tonnes of copper and close to 2.0 million ounces of silver during 2007. The Company will strive to continue to deliver on its commitments for the benefit of its shareholders. Based on its 2007 targeted production, and in conjunction with the Company's cash reserves of $155 million at year-end 2006, the Company anticipates that there will be sufficient financial resources to meet its 2007 development plans.